Gujarat State Fertilizers & Chemicals Ltd have reported its results for the April-June quarter for the current fiscal year and reported a 67.47% decrease in its net profit to Rs 112.46 crore from the Rs 345.81 crore reported in Q1Fy23. 

Gujarat State Fertilizers & Chemicals is a public sector company that manufactures various fertilisers and industrial products like plastics, synthetic rubbers, and artificial fibres and is promoted by the Government of Gujarat.

The company reported a 31.6% decline in operating revenue at Rs 2,062.9 crore from the Rs 3,018 crore reported in the year-ago quarter. 

On the operating front, the EBITDA tumbled by 72.9% to Rs 142.4 crore, while the EBITDA margins dipped by 6.9% from 17.4%. 

At 12:00 pm, the Gujarat State Fertilizers & Chemicals shares were trading at Rs 150.45 or 3.90% below its previous close of Rs 156.55 on NSE.